Canadian consumers are generally confident

Confidence in the economy, job security, real estate prices, and personal finances, are all generally positive according to a weekly poll.

The Bloomberg/Nanos Canadian Confidence Index is broadly steady with a reading of 56.58, down 1 point from a week ago and down from 60.85 four weeks ago. It is also just below the 2018 average of 57.05.

The two sub-indexes were also lower, reflecting weaker confidence in job security and personal finances; and expectations for real estate prices and the Canadian economy.

“Consumer confidence in the Prairie provinces continues to lag other regions and are below their 12 month average,” said Nanos Research, Chief Data Scientist, Nik Nanos.

More than 40% of respondents believe real estate prices will be higher in 6 months compared to the 16% who expect them to decrease.

The decline in confidence overall is seen across regions, age groups, and income bands; although Quebec bucked the trend with a gain in confidence.

Both owners and renters showed reduced confidence overall.]


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